Bajan singer turned beauty and makeup mogul, Rihanna, has hit many accolades in her career. Now, she has another rare achievement to add to her impressive resume—billionaire.
While the world is waiting for her elusive album R9, today Forbes confirmed Rihanna is officially a billionaire on the back of her highly popular Fenty Beauty line, a 50-50 joint venture with French beauty and luxury global powerhouse LVMH.
Founded in 2017, to help “women everywhere (feel) included”, the line of beauty products offers a range of shades and colours for women of colour—a glaring gap in the market. The cosmetics empire is now worth an estimated $1.4 billion, making up the bulk of Rihanna’s $1.7 billion net worth.
According to LVMH, in 2018, its first full calendar year, Fenty Beauty was earning in more than $550 million in annual revenues, topping Jessica Alba’s Honest Company, Kylie Jenner’s Kylie Cosmetics, and Kim Kardashian West’s KKW Beauty.
Rounding out the rest of Rihanna’s net worth are her 50% stake in Savage x Fenty lingerie company, worth an estimated $270 million, and her music.
The valuation makes Rihanna the wealthiest female musician in the world and the second wealthiest female entertainer after Oprah, and comes after the “Umbrella” hitmaker and LVMH announced the closing of Fenty Maison earlier this year.